Gallaher Pensions, Greenford, England, committed £50 million ($87 million) to JPMorgan Asset Management's U.K. Specialist Equity fund, a low-risk strategy of both value and growth stocks, according to a news release.
Funding for the hire came from a manager that was terminated; details were not released.
JP Morgan already runs a £65 million continental Europe equity mandate for the £860 million pension fund.
Julian Rose, Gallaher's pensions manager, could not comment on the hiring by press time.
